Jullundur Motor Agency first-half profit rises 28% on revenue growth

Jullundur Motor Agency (Delhi) Limited reported consolidated first-half profit attributable to owners of Rs 14.56 crore for the half year ended September 30, 2026, up 28% from Rs 11.37 crore a year earlier, while revenue from operations increased 13% to Rs 315.84 crore. The results were approved by the board on November 12, 2026.

What were Jullundur Motor Agency’s first-half results?

Jullundur Motor Agency’s consolidated profit after tax rose to Rs 14.81 crore in the half year ended September 30, 2026, from Rs 11.59 crore in the corresponding prior-year half, an increase of Rs 3.22 crore. Profit attributable to the company’s owners increased by Rs 3.19 crore to Rs 14.56 crore, while profit attributable to non-controlling interests was Rs 0.25 crore, compared with Rs 0.22 crore a year earlier.

Revenue from operations reached Rs 315.84 crore, compared with Rs 280.68 crore in the half year ended September 30, 2025. Including other income, total income was Rs 320.20 crore, up from Rs 285.18 crore. Other income declined to Rs 4.36 crore from Rs 4.50 crore, meaning that the increase in total income principally reflected the Rs 35.16 crore rise in operating revenue.

How did Jullundur Motor Agency’s second quarter compare?

Jullundur Motor Agency reported profit attributable to owners of Rs 6.73 crore for the quarter ended September 30, 2026, compared with Rs 5.86 crore in the September 2025 quarter. Consolidated profit after tax rose to Rs 6.85 crore from Rs 5.98 crore over the same comparison, while total comprehensive income attributable to owners was Rs 6.59 crore, versus Rs 6.23 crore.

Sequentially, the September-quarter profit attributable to owners was lower than Rs 7.83 crore in the quarter ended June 30, 2026. Revenue from operations also declined sequentially to Rs 155.37 crore from Rs 160.47 crore, although it remained above Rs 141.65 crore in the prior-year September quarter. The half-year outcome therefore combined year-on-year growth in both quarters with a lower second-quarter revenue and profit figure than in the immediately preceding quarter.

Earnings per share, or EPS, attributable to the equity shares of face value Rs 2 each was Rs 6.38 for the first half, compared with Rs 4.98 in the prior-year period. For the September 2026 quarter, basic and diluted EPS were each Rs 2.95, above Rs 2.57 a year earlier but below Rs 3.43 in the June 2026 quarter. Paid-up equity share capital remained Rs 4.57 crore across the reported periods.

What expenses changed during the first half?

Jullundur Motor Agency’s purchases of stock-in-trade increased to Rs 275.41 crore in the first half from Rs 235.46 crore a year earlier, an increase of Rs 39.95 crore. The company’s business comprises sales and distribution of automobile parts and accessories in India, and it reports this as its only operating segment under Indian Accounting Standard 108, which covers operating segments.

The company reported a Rs 3.16 crore reduction through changes in inventories of stock-in-trade during the 2026 first half, whereas it recorded an expense of Rs 7.83 crore in the comparable period. Employee benefits expense rose to Rs 17.09 crore from Rs 16.65 crore, while other expenses increased to Rs 10.47 crore from Rs 9.04 crore. Depreciation and amortisation declined marginally to Rs 46.54 lakh from Rs 47.92 lakh.

Total expenses rose to Rs 300.27 crore from Rs 269.45 crore, an increase of Rs 30.82 crore that was smaller than the Rs 35.02 crore increase in total income. Consequently, profit before tax rose to Rs 19.93 crore from Rs 15.73 crore. Current tax was Rs 5.16 crore, compared with Rs 4.18 crore, and total tax expense was Rs 5.12 crore versus Rs 4.14 crore after deferred-tax movements.

What changed in Jullundur Motor Agency’s balance sheet and cash flow?

Jullundur Motor Agency’s consolidated total assets were Rs 351.85 crore at September 30, 2026, slightly below Rs 352.88 crore at March 31, 2026. Total equity increased to Rs 286.22 crore from Rs 277.90 crore, while total liabilities decreased to Rs 65.63 crore from Rs 74.98 crore. Other equity rose to Rs 278.29 crore from Rs 270.11 crore during the six months.

Within current assets, inventories rose to Rs 103.13 crore from Rs 99.41 crore, while trade receivables fell to Rs 82.45 crore from Rs 94.37 crore. Cash and cash equivalents fell to Rs 10.79 crore from Rs 11.88 crore, and bank balances other than cash equivalents declined to Rs 4.70 crore from Rs 8.97 crore. Non-current financial assets rose to Rs 112.51 crore from Rs 55.14 crore.

Net cash from operating activities was Rs 10.48 crore in the half year ended September 30, 2026, compared with Rs 13.22 crore in the prior-year half. Investing activities used Rs 4.61 crore, compared with an outflow of Rs 6.25 crore, while financing activities used Rs 6.97 crore, including Rs 6.97 crore of dividend paid. The resulting net decrease in cash and cash equivalents was Rs 1.10 crore, against a Rs 2.29 crore increase a year earlier.

What capital return has Jullundur Motor Agency disclosed?

Jullundur Motor Agency has disclosed a proposed buyback of up to 20 lakh fully paid equity shares at Rs 112 per share, for an aggregate amount of up to Rs 22.40 crore. The proposed maximum number represents up to 8.76% of the company’s existing paid-up equity share capital. The company fixed November 18, 2026 as the record date to determine shareholder eligibility and entitlement for the buyback.

The disclosed pre-buyback shareholding data as of November 6, 2026 showed promoter individuals held 1.16 crore shares, or 51%, while public shareholders held 1.12 crore shares, or 49%. Jullundur Motor Agency said the actual number of shares bought back and the post-buyback shareholding pattern would be determined after the buyback is completed.

Separately, shareholders approved a final dividend of Rs 3 per equity share for financial year 2025-26, including a Rs 1 special dividend. That dividend aggregated Rs 6.85 crore, was approved at the August 25, 2026 annual general meeting, and was paid in September 2026. The company disclosed the dividend payment and proposed buyback alongside first-half consolidated profit attributable to owners of Rs 14.56 crore.

Conclusion

Jullundur Motor Agency’s first-half figures show a Rs 3.19 crore year-on-year increase in profit attributable to owners alongside a Rs 35.16 crore increase in revenue from operations. Purchases of stock-in-trade rose by Rs 39.95 crore, but the shift in inventory changes, from a Rs 7.83 crore expense to a Rs 3.16 crore reduction, coincided with profit before tax rising by Rs 4.20 crore.

The next disclosed event is the November 18, 2026 record date for eligibility to participate in the proposed Rs 22.40 crore buyback at Rs 112 a share. The company has not stated the final quantity of shares to be repurchased, and says the eventual post-buyback ownership pattern will be determined once the process is completed.